German Exports Rise Unexpectedly

(RTTNews) - Germany's exports grew unexpectedly in March but the overall increase remained weak and imports registered its fastest growth in nearly three years.

Exports grew 0.5 percent, following February's 3.6 percent increase, Destatis reported. Shipments were forecast to fall 1.9 percent.

At the same time, imports growth accelerated to 5.1 percent from 4.9 percent in the prior month. The increase in imports was the fastest since May 2023.

As a result, the trade balance showed a surplus of EUR 14.3 billion in March, which was well below EUR 19.6 billion surplus seen in February.

On a yearly basis, exports logged a strong growth of 6.9 percent after rising 1.6 percent in the previous month. Likewise, imports advanced 11.1 percent, following February's 0.7 percent rise.

Exports to euro area countries climbed 4.1 percent and imports from these climbed 1.7 percent. At the same time, exports to US dropped 7.9 percent and imports from the US decreased 3.7 percent. Shipments to China fell 1.8 percent, while imports from China grew 4.9 percent in March.